OREANDA-NEWS. November 14, 2011. On November 6, OGX began its exploratory campaign in the Espirito Santo Basin. The first well, Moriche-1, is being drilled by OGX partner and operator, Perenco, at a water depth of 1148m in the BM-ES-37 block, located approximately 95 kilometers  off the coast of Espirito Santo.

The well is being drilled with the Ocean Star semi-submersible rig. The drilling should last about 2 months, at the end of which the rig will be mobilised to the BM-ES-38 block, in the same basin, to begin drilling the Guarapari prospect.

OGX has a 50% stake in five exploratory blocks in this basin and its partner Perenco has the remaining 50%, being also the operator. All the blocks are located in deep water. The companies plan to drill six wells in the region over the next three years.

The deepwater area of the Espirito Santo Basin is considered to be a new exploration frontier, even though this basin already has some production fields, and it is an important area for OGX’s portfolio of resources. With the spudding of this well, OGX has  now activities in 4 Brazilian basins: Campos, Santos, Parnaiba (onshore) and Espirito Santo.